Cash Monitoring List Unveiled — from insidehighered.com by Michael Stratford
Excerpt:
WASHINGTON — The U.S. Department of Education on Tuesday, for the first time, named most of the hundreds of colleges whose federal aid it has restricted because of concerns about their finances or compliance with federal requirements.
The department released a partial list of the nearly 560 institutions that, as of March 1, were subject to the financial restrictions known as heightened cash monitoring. Most of the colleges — 487 institutions — were on the lower level of scrutiny, and 69 were subject to the higher, more stringent restrictions.
Increasing Transparency and Accountability for Students — from ed.gov
Excerpt:
Higher education remains the most important investment any person can make in their future. In the several months I’ve been at the U.S. Department of Education, I have had a number of conversations with students and families that have inspired me to double down on our commitment to making college more affordable and accessible. A big part of our work toward that goal has been to increase both the quantity and quality of information that students, families, borrowers and the public have about higher education.
[On 3/31/15] we are taking another step to increase transparency and accountability. We are releasing a list of colleges and universities that are on what we call Heightened Cash Monitoring. There were about 560 institutions on this list as of March 1. The list has been released to members of the press that requested it, and will be published on the Department website in the coming days and updated on a regular basis.
From DSC:
Most likely, these organizations will be in even bigger trouble as news of this list gets out — something the U.S. Department of Education knew all along and was the key reason they weren’t releasing it I’d wager. However, many people have been asking for this list to be made public; the recent closing of Briar College may have impacted the U.S. Department of Education’s decision here…I’m not sure.
But again, I’m going to ask, are those of us within higher education willing to change? To adapt? To respond to shifting landscapes, needs, economic pressures, etc.? If not, what’s it’s going to take? Perhaps if our/your institution’s name was on that list…would that do it? I don’t think we/you want that to happen. More of us had better take action well before that even becomes a remote possibility.
I’m attaching several categories to this posting, including:
Reinvent.
Surviving.
Staying relevant.
Business side of higher ed.
Change.
Pace of change.
Future of higher education.
Game-changing environment.